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Plan the Trade

  • #4,101
  • Jan 10, 2018 8:30am Jan 10, 2018 8:30am
Quoting The Cableguy
{quote} I seriously miss Sierra charts......
Why don't you just use Sierra with FXCM.
  • #4,102
  • Jan 10, 2018 8:34am Jan 10, 2018 8:34am
Quoting jtrade
{quote} Hello, dear H - I finally accepted I'm a lousy trader, but in so doing discovered that even a lousy trader like me can make 20 a day "You don't have to make a lot, to make a lot..."
Been saying that for years not that your a bad TRADER but making 20 a day can make you a living
  • #4,103
  • Jan 10, 2018 8:41am Jan 10, 2018 8:41am
Quoting angus
{quote} Why don't you just use Sierra with FXCM.
Sierra isn't on their list of platforms.
  • #4,104
  • Jan 10, 2018 8:43am Jan 10, 2018 8:43am
Quoting Noeyedear
{quote} Sierra isn't on their list of platforms.

https://www.sierrachart.com/index.ph...ngServices.php
  • #4,105
  • Jan 10, 2018 8:44am Jan 10, 2018 8:44am
It's only 20 a month
  • #4,106
  • Jan 10, 2018 9:23am Jan 10, 2018 9:23am
Quoting angus
{quote} Why don't you just use Sierra with FXCM.
I have to admit to being a little confused by this.

As i understood it, any European Index's traded via Sierra needs ICE data which is (from memory) something like $75 a month.

Or am i wrong?
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  • #4,107
  • Jan 10, 2018 9:25am Jan 10, 2018 9:25am
Quoting jtrade
{quote} Didn't know you traded the DAX, 'ras. My two trades that morning - I only target net 20 / day (basis 0.5 = 1 tick) - so I stopped after 12 minutes. As you can see, I always leave lots on the table for the good traders. {image} Btw, my 30 second chart (thanks, CG ) is for monitoring trade executions only.
one way of getting more ticks is to move sl to 1 tick above last candle, e.g.

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Become the casino
  • #4,108
  • Jan 10, 2018 9:32am Jan 10, 2018 9:32am
Quoting The Cableguy
{quote} I have to admit to being a little confused by this. As i understood it, any European Index's traded via Sierra needs ICE data which is (from memory) something like $75 a month. Or am i wrong?
Well, if you were trading the FDAX or mini FDXM (Futures Contract) you would be using the Eurex exchange for clearing and data at 18 Euro a month with Amp Futures, with a tick size of 0.5 or 1 point respectively. But if you use FXCM you can trade the GER30 CFD and that starts at 10c a point with a spread of about 0.9 and a tick size of 0.1.
  • #4,109
  • Jan 10, 2018 11:21am Jan 10, 2018 11:21am
2nd trade 15 pips by adding support resistance

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  • #4,110
  • Edited 12:33pm Jan 10, 2018 12:20pm | Edited 12:33pm
Quoting thomi
2nd trade 15 pips by adding support resistance {image}
Nice one.

I've been playing around with VbP profile.

I'm probably going to be playing with this for a while, but i didn't realise that it added my favourite profile lines onto each day automatically.

Those are the HOD/LOD extremes together with the Close value (@16:30). I had them already with the Daily OHLC setting, but to get them automatically added was a nice touch.

I've now got it so that i have one chart with volume displayed and POC, VvHigh/Low lines too.

This might look a bit of a mess at first, but there is some canny info here. You simply can not argue with the lower Volume Value line today;

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and then using the trading chart, we can see in a little clearer detail. Look at the LOD trade just after open, a tiny 123 break rejection of the line and retest, ready for the drop from the line.... lovely;

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In fact, right at open there was also a reaction off of the Vvl line too...
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  • #4,111
  • Jan 10, 2018 12:35pm Jan 10, 2018 12:35pm
Hey CG, what time is the Volume profile based on?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #4,112
  • Jan 10, 2018 1:01pm Jan 10, 2018 1:01pm
Quoting capstone
Hey CG, what time is the Volume profile based on?
As far as i can tell, it is whatever is shown in the chart. It adjusts as you scroll the screen. I've been trying to find a way to set it purely for previous day, but don't think that it is possible without TPO data. It doesn't do individual profiles.

That begs the question, how the vvl line is so accurate with the prior weeks volume data?

My favourite profile line is actually the Gap close, but i will see if i can obtain the volume profile lines by viewing just the prior days PA, before open and transferring the data across. As i say, i need to have a play around, but even the valley was useful earlier.

Has to be said, it's certainly nice to be able to glance at a screen and see exactly where volume has been entering (or absent) from the market. Valleys are great tools. You can see where appetite disappears...
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  • #4,113
  • Edited 2:19pm Jan 10, 2018 1:53pm | Edited 2:19pm
Quoting The Cableguy
{quote} As far as i can tell, it is whatever is shown in the chart. It adjusts as you scroll the screen. I've been trying to find a way to set it purely for previous day, but don't think that it is possible without TPO data. It doesn't do individual profiles. That begs the question, how the vvl line is so accurate with the prior weeks volume data? My favourite profile line is actually the Gap close, but i will see if i can obtain the volume profile lines by viewing just the prior days PA, before open and transferring the data across. As i say, i...
You are doing a rolling profile based on visible bars. Change it to multiple profiles based on fixed time, set fixed time to days, length for fixed time to 1, change separate evening profile to no and finally set number of periods back to reference to 1. If you want the current daily volume profile also in view add the study again, make it 1 fixed period and right align or better use volume value lines study to only show the lines of today. This way you will have yesterday's profile on today. Use the study to see the profile setup and remove what you don't need.

Remember to limit down the days you use in tick charts to 30 otherwise it might get slow with many charts.
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  • #4,114
  • Jan 11, 2018 12:55am Jan 11, 2018 12:55am
Quoting sakisf
{quote} You are doing a rolling profile based on visible bars. Change it to multiple profiles based on fixed time, set fixed time to days, length for fixed time to 1, change separate evening profile to no and finally set number of periods back to reference to 1. {image} {file}
Brilliant, many thanks.
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  • #4,115
  • Jan 11, 2018 5:25am Jan 11, 2018 5:25am
hello,

how to display the graph in ticks on mt5 please ?
  • #4,116
  • Jan 11, 2018 6:21am Jan 11, 2018 6:21am
Quoting thomi
hello, how to display the graph in ticks on mt5 please ?
I don't think you can
  • #4,117
  • Jan 11, 2018 6:21am Jan 11, 2018 6:21am
Quoting thomi
hello, how to display the graph in ticks on mt5 please ?
There is not a good way to do this. I found a few tick chart indi's. The best was by az-invest called "x tick chart". In the end if you want a good tick chart you will probably just go with a different platform. If you are trading futures, mt5 has other issues as well, like not being able to choose bracket orders with limit orders for TP. AMP mt5 forum has a discussion called "slippage on a limit order" where they mention how mt5 orders are placed with CME exchange. Its far from ideal.
  • #4,118
  • Jan 11, 2018 6:36am Jan 11, 2018 6:36am
Thank you for your answers.
  • #4,119
  • Jan 11, 2018 6:52am Jan 11, 2018 6:52am
crappy pa 2 +10s 1 -10
  • #4,120
  • Jan 11, 2018 6:59am Jan 11, 2018 6:59am
Quoting Divergence
crappy pa 2 +10s 1 -10
Lots of overlapping candles. I had a quick look at a quicker chart (382), but it did not look any better.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
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